“And tonight I am announcing that we will join our allies in closing off American air space to all Russian flights further isolating Russia and adding an additional squeeze on their economy. The Ruble has lost 30% of its value, he said.He said the Russian stock market has lost 40% of its value and trading remains suspended. Russia’s economy is reeling and Putin alone is to blame, he added.At the same time, Biden asserted that the US forces are not engaged and will not engage in conflict with Russian forces in Ukraine. “Our forces are not going to Europe to fight in Ukraine, but to defend our NATO Allies in the event that Putin decides to keep moving west, he said.”For that purpose we’ve mobilized American ground forces, air squadrons, and ship deployments to protect NATO countries including Poland, Romania, Latvia, Lithuania, and Estonia. As I have made crystal clear the United States and our Allies will defend every inch of territory of NATO countries with the full force of our collective power, he said.In his address, Biden touched upon some of the key successes of the year old administration and his policy perspective to some of the key challenges being faced by the nation, both on the domestic and international front.”We have a choice. One way to fight inflation is to drive down wages and make Americans poorer. I have a better plan to fight inflation. Lower your costs, not your wages, he said.”Make more cars and semiconductors in America. More infrastructure and innovation in America. More goods moving faster and cheaper in America. More jobs where you can earn a good living in America. And, instead of relying on foreign supply chains let’s make it in America, he said.”Economists call it increasing the productive capacity of our economy.’ I call it building a better America. My plan to fight inflation will lower your costs and lower the deficit, Biden said.Biden also highlighted how his Administration is executing on his comprehensive strategy to make our communities safer and reduce gun crime.As part of an ongoing Administration-wide effort to prevent, deter, and punish identity theft and other forms of pandemic fraud by serious criminal syndicates, Biden announced that the Department of Justice (DoJ) will appoint a Chief Prosecutor to Focus on the Most Egregious Forms of Pandemic Fraud Including Identity Theft by Criminal Syndicates.He called on the Congress to provide the resources needed for the DOJ Task Force to expand prosecutions of egregious pandemic fraud, including in support of the strike force teams.
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